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The healthcare CEO gets a new job

Chief executives need to reinvent not only their organizations, but their own position.

Overview

In a US healthcare industry undergoing foundational transformation, healthcare provider CEOs and leadership teams are challenged to adapt. Regulation, technology, demographics and underlying economics are forcing an industry shift to a more consumer-based model.

Eighty-two percent of healthcare executives agree that their organizations are being increasingly pressed to reinvent themselves before they are disrupted. Boards will evaluate CEO performance on the basis of membership, market share, share of wallet and consumer lifetime value. As a result, CEO and leadership responsibilities, competencies, challenges and opportunities will be different from today’s norm.

"Eighty-two percent of healthcare executives agree that their organizations are being increasingly pressed to reinvent themselves before they are disrupted."

Key Findings

Fundamental to the healthcare provider CEO’s successful leadership will be the creation of an organizational- and community-based ecosystem in which healthcare transformation can occur.

CEOs, with their leadership teams, will set the organization’s purpose and North Star—guiding and driving change. Day-to-day operational leadership must shift to the leaders running day-to-day operations so the CEO can focus on facilitating change. This includes developing traditional and nontraditional partnerships with other healthcare systems, other players/participants across the full continuum of care, as well as public health agencies, schools, business leaders and payers.

In addition to outside help, CEOs must expand their teams with skills not historically found in healthcare organizations. Retooling the bench for digital and consumer skills is key to making transformation to an agile, patient-centric model stick.

"Ninety-four percent of healthcare provider CEOs agree that the future of healthcare will require new talent strategies."

The Healthcare CEO

Recommendations

There are a few questions every healthcare provider CEO should ask in the current environment. For example:

Creating fitness for change. Is the leadership agenda well defined and is accountability articulated throughout the organization?

Evolving the ecosystem. Have you created the bandwidth and skill to help the ecosystem change? Has leadership aligned around metrics as indicators of success?

Building agility muscle. Have processes been adequately adapted to exploit digital potential with the consumer at the center?

Reformulating the skills agenda. Have leadership team skills be rebalanced and cascaded throughout the organization? Has the organization developed, hired or partnered for mission-critical capabilities?

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